The project has the capacity to generate energy for 4,000 homes.
Fianna Fáil's Energy Spokesperson, Timmy Dooley TD, welcomed the announcement.
He said: "We have the means by which to wean ourselves off fossil-based electricity. Research suggests that there is four times Ireland's total energy consumption in Irish waters alone.
-- Advertisement --
"Successful economies in the 21st century will be the ones that harness sustainable, renewable energy sources first. Ireland, as an Atlantic nation, needs to kick-start its own energy revolution.
"One of the great attributes of sustainable wave energy is the fact that it's located away from communities thereby reducing its visual and environmental impact.
"For our remote, island communities, wave energy can be a game changer, and protect their viability."
(CD/LM)
![PEFC [Ireland] Ltd](http://www.construction.co.uk/advnew/588433bul.jpg)
